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Income Tax - Highlights / Catch Notes

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Assessment of trust - addition made u/s 115BBC on account of ...

Income Tax

February 27, 2024

Assessment of trust - addition made u/s 115BBC on account of anonymous donations - The ITAT held that the addition made by the AO was not in accordance with the provisions of section 115BBC(3) since the statute does not require the Assessee to maintain PAN and bank account statements of donors, only the identity indicating name and address. Therefore, the addition made by the AO was not sustainable and was deleted.

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  1. Anonymous donations made to religious trust will not come within the purview of the provisions of sec.115BBC of the Act. - AT

  2. Section 115BBC - Anonymous Donations - Confirmation obtained from donors during the course of remand proceedings, therefore, impugned donations are no more anonymous in nature.

  3. Addition u/s 68 or 115BBC - The anonymous donations will not be covered if donations received by any trust or institution created or established wholly for religious...

  4. Addition u/s 68 - anonymous donations u/s 115BBC - the action of the A.O. to treat the deposits under reference as anonymous donations u/s 115BBC is completely unlawful...

  5. Offerings at the temple received in donation boxes - it is generally not only difficult but also not possible to maintain records - cannot be taxed as Anonymous...

  6. Revision u/s 263 by CIT - taxation being anonymous donation received in cash u/s 115BBC - According to the provisions of Section 115BBC, on anonymous donation tax is...

  7. Exemption u/s.11(1)(d) - Assessment of trust - corpus donations - anonymous donations and taxing the same u/s.115BBC - Going with the prescription of section 115BBC...

  8. Addition of donations as anonymous donation u/s 115BBC - since the donations were duly treated as income by the assessee, section 68 could not have been invoked. -...

  9. Anonymous donation /undisclosed income - Merely filing list of donors containing names and addresses / incomplete addresses does not satisfy the conditions laid down in...

  10. Exemption u/s.10(23) denied - anonymous donations received by any assessee or entity u/s.115BBC - without verifying the documents and objectively selecting some entries...

 

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